Maguire Recapitalises LA Creative Office Campus

Posted on 30 March, 2013 by Jodee Redmond

Maguire Investments has announced that it has recapitalised Water’s Edge, its 6.5 acre, two-building “creative office campus” in Los Angeles with a $105 million loan.

Water’s Edge is located close to Ballona Preserve

The funds are earmarked for tenant improvements as well as commissions for new leases on available space. The financing was arranged for the company by Rob Verrone of New York’s Iron Hound Management.

The company has also announced that Jones Lang LaSalle has been retained to assist with leasing at Water’s Edge. The team will be headed by Chris Strickfaden, Anthony Gatti, Brian Niehaus and Jaclyn Ward.

Current tenants at Water’s Edge include Luxury Link, an online travel service, video game developer Electronic Arts, LA Fitness, and the X Prize Foundation.

In January the Los Angeles Times reported that Electronic Arts had renewed its 125,000 sq ft lease in a deal worth approximately $35 million.

The word “creative” is used to describe the company’s tenants as well as its use of office space. The buildings feature taller than usual ceiling heights, open floor plans, concrete floors, and exposed ceilings.

The goal is to offer tenants a space that will encourage sharing of ideas among team members. The company is looking to appeal to the “Silicon Beach demographic.”

The Water’s Edge Complex is located near the 350-acre Ballona Preserve, one of the area’s largest remaining wetlands. Onsite amenities for tenants include LA Fitness (with sand volleyball and full court basketball), a soccer field, and a café. Next up for the complex is an outdoor swimming pool, which will open this summer.



Related Posts

    No related posts found for this post.


Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.


Recent Posts

The latest property data has identified Newquay as the fastest property seller’s market in the UK

Investing in your garden can increase your property’s value

French Riviera temping high-end homebuyers

How can the ownership rights of my commercial property impact a business sale?

Should I incorporate virtual property viewings permanently?

Investment expected to increase across Asia-Pacific in 2021

UK property industry slows as the conclusion of tax break looms

BNP Paribas cautioned investors on Friday as debt-trading bonanza that increased its earnings this past year

Over 300,000 property purchases fell through in 2020 – we show the most frequent motives and the best way to get your house sale back on track

House Prices in the Capital Surpass £500,000

Optimism from the Bank of England’s chief economist

The most expensive commercial properties.

Businesses operating from shared premises will miss out on grants

BA cuts 12,000 jobs, unions hit back

Media Streaming Service See Record Subscriptions

Covid-19 Causes Millions To Claim UK Furlough Scheme